Paytm shares to remain in focus after NPCI nod to add new UPI users

Shares of One97 Communications, the parent company of Paytm, are set to be in focus today following the company’s announcement on Tuesday regarding its approval from the National Payments Corporation of India (NPCI) to resume onboarding new users onto its Unified Payments Interface (UPI) platform.

NPCI Approval to Resume Onboarding

In its exchange filing, the company stated, “We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the company to onboard new UPI users, with adherence to all NPCI procedural guidelines and circulars.”

Also ReadF&O can’t be a national pastime: SEBI official

The approval allows Paytm to restart onboarding new UPI users, contingent upon its compliance with NPCI’s procedural guidelines and circulars regarding risk management, brand guidelines, multi-bank support, and customer data protection.

Also Read Wipro shares zoom over 5% after Q2 betters estimates; is it the right time to buy? Angel One shares zoom over 8% on best-ever quarterly numbers Dabur India shares fall nearly 5% as UBS downgrades rating to ‘Neutral’ Delta Corp shares surge over 8% on announcement of demerger of hospitality and real estate businesses

RBI Directive on Halting Operations

This approval comes after a significant halt to Paytm’s UPI operations earlier in the year. On January 31, 2024, the Reserve Bank of India (RBI) directed Paytm Payments Bank to cease deposits, credit transactions, or top-ups in customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc., after February 29, 2024. However, interest, cashback, or refunds were still allowed to be credited.

Adherence to Regulatory Frameworks

As part of the NPCI’s approval, Paytm must strictly adhere to relevant laws and regulations, including the Payments and Settlement Act, 2007, and the Digital Personal Data Protection Act, 2023.

Also ReadInsider trading norms for MFs to be effective from November

This includes ensuring robust risk management systems and safeguarding customer data as part of its resumed operations.

Stock Performance in last one year

Paytm shares have demonstrated mixed returns across multiple time frames. Over the past month, the stock has given a commendable 3.37% return, showcasing its stability and growth potential. The last six months have seen even more impressive results,

 » Read More

Related Articles

South Delhi property boom: Prices soar 105% in 3 yrs! Here’s what it takes to own a floor in GK, Green Park, Vasant Vihar

Buying a luxury independent floor in South Delhi just got a lot more expensive. Property prices in the region have jumped between 64% and 105% in the last three years, according to a new report by Golden Growth Fund (GGF), a Category-II real estate-focused Alternative Investment Fund (AIF). According to the report, in Category-A colonies

Iran-Israel conflict impact: Are Adani Ports Haifa worries rising? Maersk pauses vessel calls at port

Global container shipping giant Maersk has announced a temporary pause on the vessel calls at Haifa Port in Israel. The development comes as tension between Israel and Iran continues. Though there is some easing of tension, Maersk’s pause of vessel calls at Haifa Port could be a potential worry for Adani Ports & SEZ Adani

Oil prices fall as US delays decision on direct Iran involvement

Oil prices fell on Friday, but remained on course for a third consecutive weekly rise, after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict. Brent crude futures fell $1.89, or 2.4%, to $76.96 a barrel by 1000 GMT. They were still set to gain nearly 4% on the week.U.S. West

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

South Delhi property boom: Prices soar 105% in 3 yrs! Here’s what it takes to own a floor in GK, Green Park, Vasant Vihar

Buying a luxury independent floor in South Delhi just got a lot more expensive. Property prices in the region have jumped between 64% and 105% in the last three years, according to a new report by Golden Growth Fund (GGF), a Category-II real estate-focused Alternative Investment Fund (AIF). According to the report, in Category-A colonies

Iran-Israel conflict impact: Are Adani Ports Haifa worries rising? Maersk pauses vessel calls at port

Global container shipping giant Maersk has announced a temporary pause on the vessel calls at Haifa Port in Israel. The development comes as tension between Israel and Iran continues. Though there is some easing of tension, Maersk’s pause of vessel calls at Haifa Port could be a potential worry for Adani Ports & SEZ Adani

Oil prices fall as US delays decision on direct Iran involvement

Oil prices fell on Friday, but remained on course for a third consecutive weekly rise, after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict. Brent crude futures fell $1.89, or 2.4%, to $76.96 a barrel by 1000 GMT. They were still set to gain nearly 4% on the week.U.S. West

8th Pay Commission: Know how much your salary may increase under new fitment factor

The Centre has given the green light to the 8th Pay Commission, which is set to revise pay and pensions for over 1 crore employees and retirees. The revised pay structure is expected to come into force from January 1, 2026. ALSO READATM withdrawals, other banking services to be costlier from July 1 – here’s

AI gains strategic ground in Indian boardrooms amid budget strains – Here’s why

Indian CEOs are increasingly placing their bets on Artificial Intelligence (AI) as a cornerstone of long-term business growth, despite mixed results so far. According to the IBM Institute for Business Value’s annual CEO study, Indian business leaders are more open than ever to investing in AI and digital opportunities but they also recognize the need